The daily is turning down against the March highs at 111.68. The 4 hour is turning up against 104.15. While above 105.16 where the hourly is turning up the pair can see strength higher toward 107.50 to correct the cycle lower from the March highs.
Long USDJPY
@106.10-105.90
TP: 107.00
SL: 105.68
Good luck !
Had to readjust my entries to a lot more filtered version and with a higher R:R
This is a risk entry. hence there is always a chance for a tag in and tag out move, hence my SL is tight.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (106.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
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